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Technology Stocks : America On-Line: will it survive ...?
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To: MW who wrote (5261)10/26/1997 1:14:00 PM
From: jack rand   of 13594
 
>>Accounting restatements-- this is an industry in the early stages
>>of creation and it is very understandable that certain income and
>>expense items might get reclassified as the business model gets
>>better defined

You'll excuse me, but that's just the sell-side crap talk.

Accounting-wise, there's nothing new under the sun in cyberspace.
The SEC went after AOL for garden-variety overly aggressive
accounting. In accounting lingo: 'premature recognition' of revenue.
AOL was recognizing revenue from up-front Tel-Save payment in excess
of what was reasonable; and ,for example, taking a one-time hunk
for 'exclusivity', when standard practice is to amortize recognition
of such things over the life of the deal.

And so on. There are only so many ways to structure business deals.
Given the complexity of deals in areas such as real-estate, media,
and finance, there's nothing any Internet outfit would do that would
break new ground.
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